7 common tax mistakes small business owners should avoid

Canadian entrepreneurs are some of the best in the world when it comes to starting, managing and growing their small to medium-sized businesses. But most have little or no accounting experience, particularly in the start-up years when their energy is focused on making their company a success. All too often this results in avoidable–and potentially […]

The good, the bad and the ugly of Ottawa’s proposed corporate tax changes

The federal government last week took another step towards implementing sweeping tax changes that could have a disproportionate impact on small and medium-sized business owners across Canada. The Trudeau Liberals announced plans for a 75-day consultation period during which they’ll be seeking feedback on changes to three common tax-planning strategies for private corporations. The government’s […]

How entrepreneurs can overcome cash flow challenges

If finance and accounting were easy, there would be far more successful businesses operating (and thriving) in this country. It’s a point I made in Pt. 1 of this two-part series on tackling one of the toughest challenges facing any small to medium-size business owner: cash flow management. In that last post, I noted a […]

The 5 most common cash flow challenges for entrepreneurs

There are plenty of reasons why small and medium-sized businesses (SMEs) succeed in their respective marketplaces, but perhaps even more why they don’t. From developing products and services that their target clientele really doesn’t need, to strategic miscalculations, Canadian SMEs face a raft of obstacles to achieving business success. There’s one challenge that can be […]

When is the best time to incorporate a business?

Welcome to our new Ask the Accountant series, where our clients and readers pose accounting, finance and business management questions to KRP partners Hartley Cohen and George Grignano. Have a question you’d like answered? Email us now and we’ll put your query in the queue. Q: Thanks to a handful of new clients, the management consulting company that […]

2017 Federal Budget Commentary

The Federal Government’s 2017–18 Budget gives Canadians a taste of what they might expect over the next couple of years: attempted efficiencies, closed tax loopholes, steady deficits, and a touch of caution. Budget 2017 outlines only $200 million in net new spending, but also an increase to the deficit of more than $5 billion for […]

Five challenges of business growth—and how to overcome them

It’s the entrepreneur’s dream—come up with an idea, develop a business plan, start building out a product or service, then take it to market and experience rapid year-over-year growth. But in almost every case, fast growth comes with strategic business challenges. Some of them are so daunting they can push a company off the rails […]

Foreign investors: 4 things to know before investing in Canada

Political instability, tumbling currency values, economic uncertainty—they’re common reasons why high net-worth foreign investors often try to extract funds from their home countries and search for financial refuge elsewhere. Many look to Canada as that safe-haven. Why? Put simply, our $1.6 trillion economy is one of the largest and most stable in the world. The […]

CRA audits: How to reduce the risk

If two of the nastier inevitabilities in life are death and taxes, then tax audits would certainly rank as one of the more unpleasant possibilities. More so when you consider that Canada Revenue Agency’s ability to monitor tax filings for inconsistencies and to detect patterns of potential error or fraud are only becoming more sophisticated […]

Long-time KRP tax partner Harris Kligman announces his retirement

Kestenberg Rabinowicz Partners LLP saying goodbye to one of its Iongest-serving and most highly respected partners. Harris Kligman, who was brought on board to build and grow our tax department, has formally announced his retirement from KRP after an illustrious 25-year career. Harris has worked with organizations ranging from sole proprietorships to major corporations during […]